According to a new market research report titled, ‘Plant
Breeding Market, by Method (Conventional, Biotechnological), Trait
(Herbicide Tolerance, Disease Resistance), Application (Cereals and Grains,
Oilseed & Pulses, Fruits and Vegetables), Geography–Global Forecast to
2029,’ the plant breeding market is projected to reach $33.79 million by 2029,
at a CAGR of 14.1% from 2022 to 2029.
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Plant breeding techniques are used by cultivators to develop
or improve the crop variety and to increase its yield by manipulating the plant
genome using conservatory or molecular tools to get the desired gene or trait.
Plant breeding techniques use site-directed nucleases to transform or target
the DNA into desired DNA with extreme perfection. The crops produced by plant
breeding produce higher yields and have better disease resistance. Plant
breeding techniques are increasingly being adopted to enable sustainable crop
production.
The plant breeding market is segmented based on method
(conventional breeding method [hybridization {pedigree method, bulk method, and
other hybridization methods}, selection {mass selection, pure line selection},
mutation breeding], biotechnological breeding method [hybrid breeding,
molecular breeding, genetic engineering, and genome editing]), by trait
(herbicides tolerance, disease resistance, temperature tolerance, drought
resistance, and other traits), by application (cereals & grains
[maize/corn, wheat, rice, and other cereals & grains], fruits &
vegetables, oilseeds & pulses, turf & ornaments, and other crop types),
and geography (North America, Europe, Asia-Pacific, Latin America, Middle East,
and Africa). The study also evaluates industry competitors and analyses the
market at the country level.
The Impact of COVID-19 on the Plant Breeding Market
The COVID-19 pandemic had adverse effects on the global
economy as it impacted the production of various products. The constraints on
transportation & logistics caused by the COVID-19 pandemic negatively
impacted the plant breeding market. The prolonged duration of lockdowns, mainly
in Asian and Latin American countries, disrupted the supply and demand chain,
affecting the supply of plant breeding products.
Furthermore, the restrictions on movements made it difficult
for manufacturers to distribute their plant-breeding agricultural products to
farmers, making it difficult for farmers to produce crops. The restrictions on
trading and supply of products also impacted the supply chain of global
manufacturers, such as Bayer AG (Germany) and Syngenta AG (Switzerland), mainly
in Asia-Pacific and Latin America. Thus, during the COVID-19 pandemic, Asian
and Latin American countries experienced a decline in the plant breeding
market’s growth.
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When the COVID-19 outbreak was at its peak, farmers incurred
huge losses as there was a significant decline in crop production due to
restrictions on movement. Thus, there has been a rising demand for new variety
crops that offer higher yields among farmers. Most farmers are also becoming
aware of the benefits offered by the crops produced from plant breeding.
Furthermore, there has been a significant increase in government support to
promote the adoption of plant breeding techniques. Thus, governments in
developing countries have set up seed banks at the national and village levels
to store seeds that have been properly treated with seed treatment chemicals to
prevent seed rotting.
Key Findings in the Plant Breeding Market Study:
Based on method, in 2022, the biotechnological breeding
method segment is expected to account for the larger share of the plant
breeding market. The large market share of this segment is attributed to the
rising adoption of hybrid and molecular breeding techniques and the increase in
the cultivation of GM crops worldwide. Furthermore, the growing demand for crop
genetics and the declining costs of genetic procedures in the past decade drive
the demand for genetic engineering and genome editing worldwide.
Based on traits, in 2022, the herbicide tolerance segment is
expected to account for the largest share of the plant breeding market. The
large market share of this segment is attributed to the stringent regulations
regarding the use of chemical pesticides and the rising instances of pest
attacks during the early germination phase, resulting in an increased need for
pesticide-tolerant seeds. Generally, herbicide tolerance has been one of the
major traits targeted by plant genetic companies for transgenic and
non-transgenic crops. Furthermore, this segment is also slated to register the
highest CAGR during the forecast period of 2020–2029. The growth of this
segment is attributed to the increasing initiatives by major plant genetic
companies to develop herbicide tolerance traits for transgenic and
non-transgenic crops. For instance, the Non-transgenic Clearfield herbicide
tolerance technology, developed by BASF SE (Germany) and Syngenta AG (Switzerland),
is recognized as a groundbreaking innovation in hybrid breeding technology.
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Based on application, in 2022, the cereals & grains
segment is expected to account for the largest share of the plant breeding
market. The large market share of this segment is attributed to the increasing
demand for cereals & grains from the growing population. Furthermore, the
availability of germplasm for these crops encourages the adoption of advanced
techniques for crop breeding. The economic importance of corn due to its
application in various sectors and the increasing demand for high-quality wheat
& rice in the food sector are factors driving the adoption of hybrid
breeding technologies among cereals and grain seed producers.
Based on geography, the plant breeding market is segmented
into North America, Europe, Asia-Pacific, Latin America, and the Middle East
& Africa. In 2022, North America is expected to account for the largest
share of the plant breeding market, followed by Europe, Asia-Pacific, Latin
America, and the Middle East & Africa. North America’s major market share
is attributed to the presence of key market players, the increasing investments
in R&D activities, and the wide availability of diagnostic imaging
laboratories. Furthermore, the adoption rate of genetic modification techniques
in the U.S. is high due to the growing industrial value of corn & soybean,
encouraging breeders to adopt advanced technologies for better yield. In
addition, the large areas under corn & wheat cultivation and the growing
demand for GM corn & wheat varieties are driving the growth of the plant
breeding market in the U.S.
Some of the key players operating in the plant breeding
market report are Bayer AG (Germany), Syngenta AG (Switzerland), KWS Group
(Germany), Corteva Agriscience (U.S.), Limagrain (France), BASF SE (Germany),
DLF Seeds A/S (Denmark), Bioceres Crop Solutions (Argentina), UPL Limited
(India), Benson Hill, Inc. (U.S.), Equinom Ltd. (Israel), BioConsortia, Inc.
(U.S.), Hudson River Biotechnology (Netherlands), among others.
To gain more insights into the market with a detailed
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